Recap:
Who is responsible for your current financial situation? You, your parents, your grandparents, your spouse, gov’t?
In the mean time (while waiting for someone else/thing to change).
This is about taking personal responsibility. Own it.
Power of action instead of blame.

2015 Documentary Film
Winner of over 50 international film festival honors

This isn’t a film review. More a discussion urging you to examine why you give to foreign aid or any charity for that matter.

1) Who are these organizations? NGO’s, UN, Soles for Souls, World Vision, etc.

2) Am I giving due to a temporary crisis? Earthquake, flood, tsunami, etc.

3) How long after the headlines are over do you pay attention to the recipient country’s situation?

4) Foreign Aid is highly government subsidized.

i.e: The US rice company sends rice to Haiti. Haitians get it for free. The US sender gets money from the government, you the tax payer. Local Haitian rice farmers are put out of business. People become dependent on long term aid (food, clothing, etc). Not to mention the rice company who sends it doesn’t have to compete with Haitian rice farmers in a free market. Monopoly creation.

The United States Adamson Act in 1916 established an eight-hour day, with additional pay for overtime, for railroad workers. This was the first federal law that regulated the hours of workers in private companies. The United States Supreme Court upheld the constitutionality of the Act in Wilson v. New, 243 U.S. 332 (1917).

The eight-hour day might have been realized for many working people in the US in 1937, when what became the Fair Labor Standards Act was first proposed under the New Deal. As enacted, the act applied to industries whose combined employment represented about twenty percent of the US labour force. In those industries, it set the maximum workweek at 40 hours, but provided that employees working beyond 40 hours a week would receive additional overtime bonus salaries.

8 hrs work, 8 hrs recreation, 8 hrs sleep – Australia

1) Why 40 hrs/week other than that it’s law? We’ve been trained? It’s what capitalism requires?

2) What are your options? Four 10 hr days = 40 hrs week. Be your own boss, set your own hrs? It depends. Can you cut your hours and still serve your customers?

3) Do the math and see at 35 hrs week, could you pay your bills?
If not, look at adjusting your bills. Less house, car, credit card, entertainment.

4) What’s important? If you don’t have kids, do the math and ask those who have kids what they’re really spending. Don’t forget to ask how much $ help they’re getting from family.

3) What about interest rates?
They’re nothing but rent payments. Interest paid is rent for the use of someone else’s money. They borrower it at, say .50% and they’re lending it to you at 4.5% for house, up to 29% on credit cards. Who’s getting the best deal in that equation?

Closing:
Borrowing money is fast and convenient. Ask why are you doing it your entire life? When does it stop?

Resource:
Piece of paper, something to write with, and calculator.

Get in touch. Podcast page. email or voicemail button.
Coaching is available.

As the late Jim Rohn once said, “How can you know good paycheck if you’ve never known bad paycheck?”

1) Take a trip to the poor side of town.

Jim John gave the advice of taking your kids to the poor side of town. Show them how people who’ve made different financial decisions live. Trash in the street, cars up on blocks, yards uncut, houses in disrepair.

2) Why can’t you afford it?

Where does the money go? It goes one dollar at a time on beer, cigarettes, entertainment, fast food, etc.

The cost of our habits add up slowly over time. Financially and physically.

3) Contrast can motivate us to move up, move out or move on.

Nothing wrong with your first teenage years job being fast food, for example. Low pay, hard work. Teaches you responsibility, promptness, team work, dealing with customers (good/bad), etc.
And hopefully motivates you to want to get out of there after a short season. There’s the contrast.

By the time you start your first part time job, you should have most of these skills/experiences already instilled in you by your parents.

If they did a good job of providing you with contrast, and not protecting you from the world, your first part time job should be a much better experience.

Contrast. If everyone was the same, life would be boring. But only if we’ve first experienced everyone being different in the first place.

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